SkyLife to get listed on stock market in May

By Yoon Ja-young

SkyLife, the country’s only satellite broadcasting company is to debut on the stock market in May having recently signed up its 3 millionth customer.

“We plan to secure our position as the top digital broadcaster by achieving 3.5 million subscribers this year,” said SkyLife CEO Lee Mong-ryong, Thursday. SkyLife is the first digital broadcasting platform to reach 3 million subscribers. Half of them are enjoying high definition (HD) services.

SkyLife led the 3D broadcasting boom here, launching a channel dedicated to 3D programs last year, the first of its kind in the world. It’s starting a 3D movie pay-per-view service from Tuesday. Subscribers will have access to 30 3D movies on their 3D TVs, including Sanctum and Piranha. It plans to launch another channel dedicated to 3D films.

It is planning an initial public offering (IPO) in May, which will see 2.5 million shares listed. SkyLife has proved its business soundness, achieving 431 billion won in sales and 40.4 billion won net profit last year. Lee declined to give an IPO price. “We are coordinating with our lead managers for the deal. The listing is likely to be on May 12,” he added.

“Following the listing, we will bolster investment in N-Screen services, an advanced advertisement business, a home network and 3D,” Lee said. N-Screen, which means number of screens, allows users to watch TV content on smartphones and computers. When they have to leave the TV they don’t have to stop watching program. They can continue watching on their smartphone. Advanced advertisement sends targeted commercials to each subscriber, based on information such as age, income level and gender. A TV subscriber who watches programs about cars and with a high income level may receive advertisements from Mercedes Benz. “The advanced advertisements have turned out to be four times more effective than ordinary ads. The market has huge potential,” Lee said. SkyLife plans to commercialize the process and export it.